VeChain Price (VET-USD)

Founded in 2015 by Sunny Lu and Jay Zhang, VeChain is a L1 smart contract platform with a dual token (VET and VTHO) model. The VET token functions as a store of value and is used for transactions as well as governance. VTHO is used for gas fees on VeChain’s VeChainThor blockchain. Further, the dual token model ensures stable fees and less congestion. The VeChainThor is designed for mass adoption of the technology by businesses. The platform provides better security and data tracking, which also lower costs. Further, Thor’s Proof-of-Authority (PoA) mechanism ensures faster processing speeds over a large number of transactions. VeChain provides solutions in areas such as SDG, food safety, supply chain, agriculture and anti-counterfeiting. Some of VeChain’s more than 300 enterprise partners include Walmart China, Bayer China, BMW Group, BYD Auto and Shanghai Gas.